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Creative Planning Adds Delaware Firm Managing $535M

The acquisition of Daniels + Tansey adds advisory, investment and tax expertise to Creative Planning.

After closing the deal to buy Goldman Sachs Personal Financial Management earlier this month, Creative Planning has added a dozen team members in Delaware with the acquisition of Wilmington-based Daniels + Tansey.

Offering financial advice and investment management, as well as tax services through an in-house tax group and affiliated CPA firm run by Ann Taylor Tansey, D+T is a family-run RIA founded by Christopher (“Kit”) and DeVon Daniels in 1981. The firm managed a little more than $535 million for 328 for individuals, families, and small businesses at the time of its last federal filing in March.

“Our combination with Creative Planning isn’t a culmination of our life’s work, it’s the beginning of a tremendous future,” the founders said in a joint statement.

"We're excited about what our partnership with Creative Planning brings to our business and especially our clients," said Managing Director Chris Daniels. "By combining a comprehensive national platform with our 40-year relationship with the community, we are now able to offer the Delaware Valley’s premier, full-service tailored wealth management experience.”

“Creative Planning will bolster their approach to serving multi-generational families and attracting additional high-net-worth clients,” said David DeVoe, founder and CEO of DeVoe & Company, the advisory and investment banking firm that advised D+T on the transaction. 

Creative Planning has grown colossally since General Atlantic bought a minority stake in early 2020, subsequently completing eight acquisitions and ending the year with around $50 billion in assets. In 2021, five more deals were announced that more than doubled assets to $210 billion, primarily due to the purchase of Lockton’s $110 billion retirement business. After picking up 12 more firms in 2022, Creative Planning paused to focus on developing existing and acquired capabilities.

When its next acquisition of $1 billion AUM Telarray Advisors was announced the following spring, CEO Peter Mallouk indicated they would focus on larger, but fewer, deals going forward.

Creative Planning has since acquired $2.5 billion BerganKDV, $240 million CTB Financial Services, $1 billion Kistler-Tiffany Advisors, Mesirow’s $13 billion retirement business and Goldman Sachs Personal Financial Management, with $20 billion in assets. The Goldman unit has remained at least nominally independent, operating under the United Capital brand that was the foundation of Goldman PFM.

Several large advisor teams left Goldman following the deal’s announcement, instead joining firms such as Prime Capital Investment Advisors, Farther, Quotient and others.

In July, the firm entered into a multi-billion dollar custody arrangement with Goldman Sachs Advisor Services, bringing them alongside existing Schwab and Fidelity in an effort to better serve up-market clientele.

With offices in all 50 states and 65 countries worldwide, Kansas City-based Creative Planning oversees more than $245 billion in cumulative assets.

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